Member Info for Atanasoff

Do you want the long answer or the short answer?

Short answer - so that they can dilute the share for the next couple of years . Those bonuses don't pay themselves.

captain

this is almost exactly what happened with nnn. consolidation after being fleeced on promises of loads of jam.

they also changed the name of the business.

then they diluted the shares

then announced the old strategy wasn't working so they started 4 strategies (this never works reader)

long story short - they have just gone under after bleeding cash and the directors soaking up what was left over 2 years.

"new" company share price should be about £1.34 this is fraud with massive danger. (a 20% fall on a price of 2p is going to be less than the same percentage on the "new" share price.

you would have to be nuts to vote for this and even madder to be holding unless you have no other choice or you are prepared to lose everything on the gamble.

dsaf - i thought she was non exec ? sorry can't be ****d to check. fundamentally an independent voice to the executive. this is a great job to have tbh.

Just green stripe

Meanwhile - director buy today? Similar amount Jag spent. Same kind of time (which stopped further drops). I don’t know obviously but I cannot think that anyone else would even buy £10k of this dog until after consolidation and to see how the wind blows. Frankly I don’t know

Delaying the inevitable A going to be an interesting couple of weeks.

As I no longer have any hard predications that havent happened here is one:

No way will ODX have £3.8 m in the bank at half year trading.

Consultants, ISO, paying off a very annoyed CFO, production realignment costs, loss of production until things reconfigured. Etc etc. I cannot wait for the next update - it could be the mother of all car crashes.

In the bright side - at least by then the share price will be able to drop further ! .

I’m currently sat in a spa and just surfing. I need to go back to my book.

This is a car crash share and I enjoy seeing how companies fail. It is educational because you can learn from it. I may also be writing a book - not sure yet. Depends if I sell my current business.

For ODX I would likely say to those with big holdings and an average over 10p not to sell. It is t worth it and with such a huge loss baked in any further loss is proportionally not going to be worth much.

If you can afford to lose everything g hang on and come back in March next year. For those that need money then take what you can - you may think you will see a recovery and so not realise todays lows. With such low volumes this can behave erratically. Some may think that getting something back is better than nothing.

DYOR. My take is that this looks like a death spiral to me.

I guess the petrified idiot has two choices now - start listening to people that actually know how to read a P&L and have spent time understand the business and its sector (and hence why we currently don’t hold) or believe she is still correct and the BoD are worth trusting and everything will be okay if it wasn’t for some dark conspiracy on a tiny penny share that has typically low volumes.

Her choice and I don’t actually care as she is just a green stripe - so bad is her constant spamming, attacks on others, paranoia etc.

One thing we can say - told you so !

I must confess I hadn’t read that far. The bad news was so overwhelming that I got bored.

I can see why they want to do this but wow - shareholders are going to get stiffed again and this is the first step to do it. It’s like saying in a football match that they are doing so badly (being 95-0 down that they want make their goal smaller.

It is only because most are so far down that volume is t through the roof. Even worse is that as the price falls further the ones left are losing more.

As I said:

“In the meantime - 2.43p been paid so the share price is about to go down. Little or no appetite by the looks of things”

Within 2 hrs here we are.

Remember Sept 7th last year was when it hit an all time low. I have been saying that we will see 2.25p again. Seems we may even see less than 2p at this rate but I am sticking to 2.25p being seen. .

If this is true why haven’t we had a RNS?

In the meantime - 2.43p been paid so the share price is about to go down. Little or no appetite by the looks of things.

"Captain/Atan,

Is there anything positive for those invested?"

Yes, but it is slim pickings.

1) They have the right strategy.

2) Production Is back on track

3) As I have said a long time they won't have to pay all the £2.5m back the tax payer spaffed on them

um....

The negatives outweigh the positives. Someone sold 5000000 shares today. That must have really hurt. £13.5k for something that one time was "worth" £600K and some change. Money is a weird thing.

Have a good weekend - I'm off to a spa.

Sharesuplease

A number of reasons really. They have a poor track record over a sustained period and always have an excuse. Over the last 5 years they have seen on average a 6% decline. Here are the key reasons they struggle to break even:

1) Average quality and poor depth of board. Management skill in the UK is generally poor. ODX is no different. To combat this you need to bring in better people than you are but this runs counter to many SMEs culture. As a result you have a small pool of average talent trying to steer a company.

2) Poor strategy, governance and reporting. Again a blight for many businesses. I'm always surprised at the poor standard of management reporting. With ODX we also have had a lack of governance in production. Then finally the strategy. A average board will change strategy often and this is disruptive and makes becoming good at one specific thing really hard. As a result of all of these cost controls run away. This is the fundamental - bottom line costs are too high for the outcomes achieved.

3) Poor sales and marketing. Because ODX have had so many distractions over the years the sales, the engine of any company, has never been very good. Sales are tough to get right. Very very few companies get it right. It is expensive, needs a hard nose to manage and need to be relentless. None of this has happened. Jag seems lazy. He couldn't sell covid tests during covid. I don't think they haven't got a proper sales team . (Sometimes this is arrogance - some believe they can create something and people will just buy it. That only happens with a lucky few).

ODX other problem has been capacity. They have been trying to move premises to add capacity and improve workflows and this has been an expensive failure.

What is alarming is that they did have good margins on products but these have significantly declined. Due to a lack of R&D the new products that were meant to be launched are white label products. That means lower margins as well. Combine that with declining sales and the turnaround has to be even more impressive. Based on the factors above I am skeptical even though they have now hit on the right strategy.

TL/DR - They didn't sell enough to cover costs!

Yes. It is in the accounts:

"...based on the Group's trading assumptions the deferred tax asset in respect of trading losses will begin being realised [b]from 2025 onwards, when the Group starts to generate taxable profits[/b]. "

The chimps haven't even read the accounts. "Invested" bit have zero clue about the business.

Yes, losers do love conspiracy theories to justify their stupidity. Dunning-kruger is the problem. Conspiracy makes them feel bright for a fleeting moment. It is escapism for them more than anything.

They cannot discuss facts so they aren't left with much and because they cannot possibly admit they made a bad call they double down instead. It is why LSE is full of mugs "averaging down". Losers. Shame we have to waste tax on such ones.

See what I mean? Now I can only see a green stripe but I know the cretin will not have come back with anything credible. Just a chimp throwing poo from a cage of idiocy and bad choices it cannot escape.

No wonder so many are medicated in the UK. High on anti depressants. The horrifying reality of living with a pointless existence is enough to tip anyone over the edge.

Thankfully we're on the other side of the screen.

Dsaf

I have come to a conclusion tonight. Holders have zero interest in this stock. Based on the chats between the green stripe I it is really clear. Have you noticed? The green stripe and those that seem to decry anyone posting factual information will never address the information posted.

The bonuses despite huge losses

The CFO walking out

The ongoing dispute

The fact the BoD say that the stock price won't go above 4p this year and they won't make a profit for at least another FY.

None of that is countered. Instead they just throw insults like chimps throw fecal matter hoping something will stick. A superficial and simplistic act that requires no skill, no understanding and no knowledge.

They will always be the animals behind the glass. The question is - do you really want to be the fat kid on the other side taunting them? It wears thin after a while and is unedifying. Stop giving oxygen to these oxygen thieving losers.

The thing an attention seeking chimp hates the most? Being ignored. Not having to read what is spouted by the tax payer funded ameoba is liberating. Block em all. Cheese may go on my naughty step soon. One of them is almost certainly running two IDs. Unblock occasionally to remind them they are the chimps and then block again if you get bored.

The green stripe was quick. I hope it wasn't besmirching my character. I am in an extremely litigious mood.

Can someone with brains fill me in - I would feel soiled if I unblocked the tax payer funded loser.

Those that made pocket money buys (instantly needing a 15% recovering in price) to "average down" have been and gone. Now it is back to the sell off. Tiny volumes which means that this may hold before the drop but a drop is coming.

50 weeks ago this was at its lowest level. Since then we have had bad results, a director trough the cash in bonus payments, the CFO leaving immediately and no positive news.

If ODX was a horse it would be limping badly, be put into a jump race when it has only done flat and be on ground it would find a struggle covering. Now a few think this is the perfect time to back the horse. But anyone looking at form would laugh and walk away.

This is going to see 2.25p in my view but DYOR. (I am rarely wrong)

# Trades 12

Vol. Sold 366,187

Sold Value £9.27k

Vol. Bought 2,600

Bought Value £N/A

The losers don’t like facts. The green stripe non entity busy again. Getting posts deleted while trolling the board and filling my timeline with green stripes.

They only made a profit for that division because the accounting was done so badly that they had t assigned group costs proportionately to that cost centre.

In other words - it was an accounting illusion. When they sold off the Crown Jewels this became apparent - the accounts even admit this fact.

They have also stated they will not have taxable profit until 2025 (without giving any forecasts so a total guess).

On the plus side production capability is back to pre covid levels - but again this isn’t the whole story. For anyone that actually researches this company they will know why.

I don’t think he will have left due to another offer. Any director will typically have a 6 month notice time. Smaller companies typically have a 3 month notice period but this is unusual in listed companies.

The question really is how long will it take for them to recruit - here is a basic test:

If they recruit someone starting immediately (worst case) or within 6 months they will likely be rubbish. As stated the market is tight so the pay and prospects must be attractive enough to pull someone half decent away. If you were a CFO would you want to work for ODX? I am not a CFO but it would take a huge amount to tempt me onto the current board except as a non exec.

Remember as well they need to provide a trading update in this time frame. So not only have they got to find the right candidate but that person has to get on top of the companies finances quickly - not easy when it is bleeding cash.

I would imagine they will be asking their auditors for help as I can’t see they have many other options (unless they recruit someone rubbish).

This is looking more and more like NNN.

Spot on captain.

Some of the comments here are cringe. Clearly never been in business.

You don't lose your CFO with immediate effect unless something has gone wrong. Period.

Not a single chance they have over £4m in the bank. Zero.

All there in the RNS